BITCOIN looks great here above $20,000 also Btc is back above the trend line(drawn on the weekly time frame).
Still expecting to retest the .236 very soon. If we don’t have much volume to push to/past the .236 then I’d expect the trend line to hold as support to remain bullish.
After getting above the .236 then next target will be the red box of resistance around $40,000 to $42,000. Again this is a strong level of resistance so I’d expect shorts to be stacked around these levels.
Everyone’s favorite.618 fib located just shy of $50,000 this will be decision time for btc. Will it be a lower high or will we challenge our prior all time high and attempt to make a new all time high.
I’m enjoying this ride just like everyone else. I’d definitely take profits at the red box of resistance and start a trailing stop loss all the way up.
What’s everyone think?
Still expecting to retest the .236 very soon. If we don’t have much volume to push to/past the .236 then I’d expect the trend line to hold as support to remain bullish.
After getting above the .236 then next target will be the red box of resistance around $40,000 to $42,000. Again this is a strong level of resistance so I’d expect shorts to be stacked around these levels.
Everyone’s favorite.618 fib located just shy of $50,000 this will be decision time for btc. Will it be a lower high or will we challenge our prior all time high and attempt to make a new all time high.
I’m enjoying this ride just like everyone else. I’d definitely take profits at the red box of resistance and start a trailing stop loss all the way up.
What’s everyone think?